Egypt’s external position showed a measured but notable improvement in the first half of FY 2025/2026, with the Central Bank of Egypt reporting a 13.6% decline in the current account deficit to $9.5 billion, compared to $10.9 billion in the same period a year earlier. The improvement reflects stronger foreign currency inflows, particularly from remittances and services, although structural imbalances in trade continue to weigh on the overall balance. Remittances and services The primary driver behind the improved current account position was a surge in transfers and services receipts. Net unrequited transfers rose 28.4% to $22 billion, supported by a…
Author: Rana Salem
When Cosmos Bionic stepped onto the stage of Shark Tank Egypt, it was still a company focused on delivering affordable exoskeletons to developing markets. Within days of its episode airing, that focus expanded far beyond borders. This global reach was sparked during their appearance on Season 1 of Shark Tank Egypt in February 2023. Mina Ashraf Sadek, Chief Technical Officer of Cosmos Bionic and his team presented the COSMOS Exoskeleton, a 14kg lightweight, modular device that allows users with lower-body paralysis to walk. The pitch was particularly emotional, as it addressed a critical need for millions of Egyptians suffering from…
Egypt is accelerating its privatization drive, with the energy sector emerging as a central pillar of its strategy to expand private sector participation and unlock state assets. According to the State Ownership Policy Document, the government aims to target $10 billion in annual asset monetization while increasing the private sector’s contribution to 65% of the economy within three years. A revived IPO pipeline—led by state-owned petroleum companies—is now taking shape as a key mechanism to deliver on these goals. In a recent move, the government initiated the temporary listing of 10 state-owned petroleum companies on the Egyptian Exchange (EGX), marking…
Egypt’s push to become a regional renewable energy hub is gaining momentum, with international developers scaling up investments across the Gulf of Suez. At the center of this expansion is a 900 MW onshore wind project near Ras Shokeir, led by ENGIE, which executives say reflects both the strength of Egypt’s natural resources and the growing maturity of its energy market. Additionally, ENGIE’s renewable portfolio in Egypt currently consists of two other operational wind farms: the initial 262.5 MW Ras Ghareb facility and the 650 MW Red Sea Wind Energy (RSWE) project. Once the Ras Shokeir project is completed, the…
Egyptian manufacturers are accelerating investments in alternative energy after a sharp spike in the country’s energy import bill exposed growing vulnerabilities to global supply shocks, pushing both government and industry to act to contain costs and safeguard production. The urgency became clear as Egypt’s energy bill more than doubled from $1.2 billion in January to $2.5 billion in March, prompting a mix of state-led consumption measures and private-sector shifts toward renewable energy. Prime Minister Dr. Mostafa Madbouly framed the situation as an immediate fiscal challenge, stating: “We must think carefully; if the energy bill rose from $1.2 billion to $2.5…
As global markets grapple with geopolitical tensions and commodity price volatility, Egypt is working to stabilize its economy through a mix of policy coordination, structural reforms, and targeted investments. Policymakers and economic experts say the country is focusing on mitigating imported inflation and supply chain disruptions while laying the groundwork for longer-term resilience. Global pressures, local impact The broader global backdrop remains challenging. According to the International Monetary Fund’s April 2026 World Economic Outlook, energy markets are experiencing sharp fluctuations, with natural gas prices rising in Europe and Asia following strikes on key Persian Gulf facilities. Base metals such as…
Egypt plans to launch its first industrial investment fund by the fourth quarter of 2026, marking a shift toward equity-based financing for the manufacturing sector, according to a statement from the Ministry of Industry. Minister of Industry Eng. Khaled Hashem said the fund will be the first of five planned vehicles designed to move the sector beyond traditional bank lending and toward longer-term investment models developed with private-sector participation. “The Ministry is adopting an integrated plan to launch five investment funds,” the statement said, adding that the vehicles are intended to mobilize domestic savings and channel them into productive industrial…
At a time when global energy systems are being reshaped by geopolitical tension and structural volatility, the American Chamber of Commerce in Egypt (AmCham Egypt) convened its April 7, 2026 Special Luncheon, “Energy Security Amid Regional Instability: Egypt’s Strategy for Resilience and Sustainable Growth,” bringing together policymakers and industry leaders to reflect on Egypt’s evolving energy strategy. The discussion unfolded against a backdrop of mounting regional uncertainty, yet the tone remained forward-looking, anchored in the conviction that Egypt is not merely weathering disruption, but actively redefining its position within the global energy landscape. Opening the session, Omar Mehanna, Chairman of…
As global supply chains grapple with the effective closure of the Strait of Hormuz, a critical energy and trade artery, logistics operators are urgently seeking alternative routes. One corridor rapidly gaining prominence is the land and sea link between Egypt’s Safaga port and Saudi Arabia’s Duba port. In an interview with Business Monthly, Egytrans NOSCO Co-CEO Abir Leheta outlined what the disruption means for Egypt, the readiness of the private sector, and the strategic steps needed to transform this short-term solution into a long-term economic advantage. Global shock drives rerouting The shift toward the Safaga–Duba corridor follows a severe bottleneck…
The Egyptian capital market has officially crossed the threshold into institutional maturity. Following years of meticulous legislative preparation and structural groundwork, the Egyptian Exchange (EGX) has launched futures trading on March 1, a watershed moment that signals a fundamental evolution in the nation’s financial architecture. Far from a simple product expansion, the move is a strategic shift designed to deepen liquidity, sharpen price discovery, and provide investors with the high-caliber risk management tools necessary to navigate an increasingly volatile global landscape. Dr. Mohamed Farid, the Minister of Investment and Foreign Trade, whose prior leadership at the Financial Regulatory Authority (FRA)…